Bruce Power Plans New Investments

Updated June 4, 2002 2:26 p.m. ET

Canada's Bruce Power plans to invest nearly 1.8 billion Canadian dollars (US$1.2 billion) within three years to upgrade its nuclear generating stations on the shores of Lake Huron. The Tiverton, Ontario, power producer said it has already spent C$625 million on an initial payment for the Bruce site, which was previously owned by the Ontario government. It said it will invest an additional C$800 million to replace turbines and complete upgrades on four reactors and a further C$340 million to restart two mothballed generating units. It said that any profits generated from the site will be reinvested in the company....